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Built on Web3 Technologies
The Renderhive project relies on Web3 technologies also known as blockchains and related technologies.
Distributed ledger technologies (DLT) are essentially public databases that everybody can read and write to in a secure and verifiable way. They are an exciting new option to establish trust in a decentralized system. This is important for a distributed network like Renderhive’s where participants are anonymous ankd usually do not know each other, but need to be sure that they can trust that everyone has the same information and follows the same rules without relying on a (centralized) middleman. Blockchains of cryptocurrencies like Bitcoin and Ethereum were the first type of distributed ledgers, but other and better technologies exist already.
Hedera hashgraph is a DLT with a fascinating long-term vision and an enterprise-grade technology stack, which makes it the most energy efficient[QUELLE][c1] distributed ledger among the major players as of today. It offers low and predictable fees, making it the ideal match for projects that want to minimize operational costs to focus on the actual service or product. Its unique consensus mechanism (i.e., the hashgraph[QUELLE][c2] ) ensures a fair and verifiable ordering of events at the highest standard of security (i.e., asynchronous Byzantine fault tolerance (aBFT)) to protect the network against malicious network participants and external attacks.
The render hive relies on the Hedera services to order as well as to distribute render jobs in a trustworthy, verifiable, and trackable way. It also ensures that clients receive their render results and providers are paid for their offered render power. Furthermore, it stores verifiable proofs of executed render jobs – so that you can always proof that you were the one to send a Blender file to the network and, thus, that you own the art no matter who rendered it.
The InterPlanetary File System (IPFS) is a public peer-to-peer network for sharing and storing files in a distributed file system. In contrast to centralized file systems, it uses a content-addressing which identifies each file based on its content. This provides a unique way to address files in a distributed system and functions as a built-in verification tool that guarantees a temper-proof exchange of files. Renderhive will rely on the IPFS to exchange Blender files, render results, and other form of data required to execute a render job.
The IPFS itself is not focused on long-term storage of data. Caches are frequently emptied and if a file happens to be not frequently requested, it can happen that it becomes inacessible. Filecoin is a blockchain-based incentive layer built on top of IPFS, which can guarentee that a file stays accessible on the IPFS by paying nodes to pin the specific file.